Week in Review 4.29 to 5.3

USDA Issues Guidance On Legal Hemp; CBD Demands Grow, Along With Regulations; Mexico and Columbia Legalization Updates; STATES Act Update

This Week in Review

Hemp In, Spinach Out as Investors Throw Money at Newly Legal CBD

When Patrick Horsman’s small private equity firm purchased 10,000 acres in Yuma County, Arizona, in 2016, organic spinach and lettuce were on the menu. Then the anti-cannabis tide in Washington, D.C. shifted, with the 2018 Farm Bill decriminalizing both hemp and its trendy ingredient known as CBD. Now, he’s growing hemp instead. Read more

USDA Issues First Guidance on Legal Hemp, But Don’t Expect Federal Regulations Until Late 2019

While the roll-out of hemp regulations in the wake of the 2018 Farm Bill is continuing in fits and starts, the U.S. Department of Agriculture did open the door to hemp seed imports. Read more

High-Potency CBD Demand Grows While Cost, Regulations Remain A Concern To Some

The U.S. CBD market could grow to $16 billion in size by 2025, according to Cowen. While the market becomes familiar with CBD, an increase in higher potency cultivars has become a subject of interest in the space. More potent CBD is used by many people — namely those seeking a stronger dose of cannabidiol with little to no THC in their treatment. Read more

The STATES Act Could Be the Biggest Win for Federal Marijuana Reform in 2019

The folks we sent to Capitol Hill to represent our best interests are actually working on something good—and they're working on it together. On Wednesday, lawmakers from both sides of the aisle made a major step for marijuana reform, introducing legislation in the House and the Senate to protect people in states where weed is legal from federal intervention. Marijuana just isn't the boogeyman it used to be. Read more

Cannabis Vaporizer Company Pax Labs Raises Benchmark $420 Million In Funding

Pax Labs, a San Francisco-based maker of vaporizers, confirmed it raised $420 million in equity financing, a record for a U.S.-based marijuana company. The firm said the round included both new and existing institutional investors, including New York-based Tiger Global Management and San Francisco-based Tao Capital Partners. Read more

Mexico Aims to Legalize Recreational Marijuana Before October

Momentum within the marijuana industry is undeniable. Since 1995, we've seen support for broad-based legalization in the U.S. catapult from just 25% to 66% in October 2018, according to Gallup's national poll. We've also gone from having zero U.S. states legalized for medical or recreational purposes in 1995 to 33 states having approved medical marijuana as of today, with 10 also allowing adult consumption. Read more

Federal Marijuana Legalization Is Close, Suggests Canopy-Acreage Deal

Sometimes it is necessary to read between the lines. So, when the largest cannabis company in the world enters into a multi-billion dollar deal with a well-known American cannabis firm -- one that is set to take effect only after the federal government repeals marijuana prohibition -- it is hard not to consider the possibility that someone knows something and that maybe, just maybe we are closer than we think to living in a time when marijuana is taxed and regulated nationwide in a manner similar to alcohol and tobacco. Read more

Colombia’s Medical Marijuana Industry: A Way To End The Stigma Surrounding Drugs?

Colombia, a country that has suffered greatly under the stigma of the illegal drug trade, has an opportunity to reinvent itself with the cultivation of a plant that for decades has been controlled by illegal groups: marijuana. Read more